Extendeal, a digital platform that helps pharmacies buy drugs at the cheapest prices, has recently raised an impressive $7.5 million. This new funding is part of their broader plan to grow their services in Colombia and Mexico. The company, which is already working with 2,000 pharmacies, has received a total of almost $20 million in investment to date.
What Extendeal does is simple: it quickly compares drug prices from different suppliers and shows pharmacies where they can get the best deals. This means pharmacies can save time and money, which is important for their business. The website of Extendeal explains that it not only finds the lowest prices in real-time but also spots special deals and discounts, ensuring pharmacies are paying the least possible amount for their stock.
The CEO of Extendeal, Guido Stefani, believes that their technology is key to changing the way pharmacies buy drugs. By making price information easy to find, Extendeal levels the playing field for all pharmacies, giving them a better chance to compete. Stefani says that with Extendeal, pharmacies are no longer at the mercy of fixed prices and can make better buying choices.
Before Extendeal, pharmacists had to spend a lot of time checking prices and ordering drugs manually, often several times a day. Extendeal aims to be a helpful partner for these pharmacies by doing all the price checking quickly and efficiently.
The idea for Extendeal came from Stefani and his team's own experiences with the challenges of buying drugs for pharmacies. They realized that the process was outdated and needed to be more systematic. Starting as a tool to help their own business, it wasn't long before they saw the potential for Extendeal to help pharmacies beyond their own, turning it into an international project.
With the new investment, Extendeal is set to become the go-to platform in Latin America for pharmacies looking to buy smarter and cheaper. As the first platform of its kind in the region to focus on giving pharmacies the power of price information, Extendeal is changing the game for the better.